checkout/additional fee (formerly line item): An optional extra charge that can be added to any payment plan as a separate line item. It may be a percentage of the total amount or a fixed value.
down payment: The amount required to initiate a payment plan and complete a sale. Just like the fee, the down payment may be a percentage of the total amount or a fixed value.
payment frequency: How often payments are processed. It may be in units of days, weeks or months. Specific dates may also be set by selecting the days of the month option.
term: Also known as payback period, it is the total time until all payments are made and the term of the payment plan is complete. It may be in units of days, weeks or months. A specific number of payments or a final payment date may also be used to set the term.
first payment date: This is for the first payment processed after the downpayment. You can allow your customers to choose their first payment date by entering the maximum number of days in the future that your customers can choose to start paying their plan.*
customer flexibility: You can allow your customers to have flexibility in chosing their down payment, payment frequency, term length and/or first payment date from a range set by you. You can read more about flexibility here: Customer Flexibility.